After weeks of increasingly confident media speculation, Google has confirmed it is setting up an outpost of its venture capital wing in Europe. And with a brief to follow a similar strategy to the U.S. team that invested in Flatiron Health, DNAnexus and other biotech IT startups, the $100 million fund is a new source of capital for European life science innovators.
The rise of omics data in R&D has increased the overlap between biotech and Silicon Valley-style tech startups, with Flatiron Health's recent $130 million round making it a standout example. This week, SolveBio took its first steps on the path established by Flatiron by raising cash from the co-founder of Paypal other other leading tech investors.
When Flatiron Health emerged in 2012 with a mission to improve oncology care, its founder predicted it would either be "a great success or a horrible failure." Now the Big Data startup is reportedly on the cusp of taking a major step towards the better of these two outcomes, with Fortune writing Google's venture capital wing is leading a $100 million financing round.
Now that J&J has wrapped up the $1 billion acquisition of Aragon and its next-gen treatment for castration-resistant prostate cancer, the biotech's founders can devote themselves to a new startup that now has a $30 million venture bankroll to work with.
Bioinformatics startup InterpretOmics has snagged $1.6 million (Rs 10 crore) from a slate of angel backers, seeking to grow its business of providing cloud-based software for analyzing genomics data, the company said last week. The only named investor was the Singapore-based shipping company Amarante.
Less than a year since launching, Arpeggi has agreed to be acquired by the 13-year-old DNA testing outfit Gene by Gene. And the genome analysis software from Austin-based Arpeggi is expected to propel the Houston buyer's plans to offer affordable genomic testing and diagnostics services for the consumer and healthcare markets.
Bina Technologies just received some capital from the tech world to bolster its DNA data analysis platform. Jerry Yang, the co-founder and former CEO of Yahoo ($YHOO), has backed Redwood City, CA-based Bina through his venture outfit, AME Cloud Ventures.
Global consulting firm InVentiv Health has struck a partnership with the social analytics startup Medikly, believing that young company's technology gives it an edge in assisting its clients with finding physicians to participate in clinical research.
The endorsement comes as San Francisco-based Rock Health announces a new class of 11 startups for its accelerator program, which provides access to guidance, financing and experts to help the young operations succeed.
Protagonist Therapeutics has found another major corporate investor to support its pursuit of new peptide drugs. Johnson & Johnson Development Corporation, a unit of J&J, led the Menlo Park, CA-based biotech group's $14 million Series B financing, and Eli Lilly's Lilly Ventures and Starfish Ventures returned for the latest round of funding after previously investing in Protagonist.